Impact of Big Data on Different Risk Types

September 12, 2016

By Zenobia

The majority of the advantages and challenges offered by Big Data stem from its massive volume and variety of data generated. However, different risk domains stand to benefit from Big Data technologies in different ways. Big Data can be targeted to your organization’s particular needs – whether they are for greater volume, variety, velocity or veracity – and strategically applied to enhance different risk domains.

Given here is a quick summary of the impact of Big Data on risk management and decision making.

Risk domain

Volume

Velocity

Variety

Veracity

Credit risk

Very High

Very Low

Low

Very Low

Market risk

Medium

Low

Very Low

Very Low

Operational risk

Medium

Very Low

Very Low

Low

Compliance risk

High

Low

High

High

Big Data technologies will allow the development of models that will support everyday Risk Officer Decision-making.Learn more about the how Big Data can help you in Risk Management in our next executive development program, which will be conducted on 21st and 22nd September in Mumbai. Click here to learn more.